In front of a City Hall crowd filled with Kings fans and public officials, Johnson said he has 19 local investors who have pledged at least $1 million each to buy the NBA franchise. He said the major partner he hopes to anchor the last-ditch deal to save the Kings from moving to Seattle "will be revealed soon."

The mayor's announcement came a day after the Maloof family announced it has signed an agreement to sell the Kings to a Seattle group led by investor Chris Hansen. That deal is pending a vote by the NBA Board of Governors.